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Illustration: Eniola Odetunde/Axios

Warby Parker, a New York-based eyeglasses designer and retailer, raised $245 million in new funding at a $3 billion valuation, Axios has learned from a source familiar with the company's finances.

Between the lines: Warby had been widely viewed as a 2020 IPO candidate, but seems to have opted to remain private longer due to both the pandemic and some struggles for other direct-to-consumer personal product brands.

  • Investors in the round included D1 Capital Partners, Durable Capital Partners, T. Rowe Price.
  • The company previously raised a total of $290 million, including a $75 million infusion in early 2018 at a $1.75 billion valuation.

Go deeper

Ina Fried, author of Login
Nov 17, 2020 - Economy & Business

Airbnb's IPO bets on a post-pandemic future

Illustration: Sarah Grillo/Axios

In filing for a $1 billion stock offering Monday, Airbnb is betting investors will look past the company's coronavirus-induced struggles and see a brighter future.

Between the lines: Airbnb faces pressure to go public despite the pandemic so it can deliver liquidity both to investors and to early employees, whose options will eventually expire.

Updated 15 mins ago - Science

China launches first astronauts to new space station

The manned Shenzhou-12 spacecraft from China's Manned Space Agency onboard the Long March-2F rocket launches at the Jiuquan Satellite Launch Center in Jiuquan, Gansu province, China, on Thursday morning Beijing time. Photo: Kevin Frayer/Getty Images

China's Shenzhou 12 mission carrying three astronauts launched into orbit on Thursday morning Beijing time.

Why it matters: Astronauts Nie Haisheng, Liu Boming and Tang Hongbo are set to occupy China's new space station. This will be the country's longest crewed space mission ever and the first in almost five years.

Biden's two-step negotiating process

President Biden departs Geneva. Photo: Martial Trezzini/Pool/AFP via Getty

President Biden's summit "reset" was less about trying to make a friend out of Russia than reframing what the U.S. believes can be accomplished by engaging with President Vladimir Putin.

Driving the news: The Geneva meeting yielded no immediate breakthroughs beyond agreements about ambassadors returning to work and plans to launch talks on nuclear security. But in classic Biden fashion — aviators on, jacket off and a one-liner about invading Russia he had to clarify was a joke — the U.S. president used a post-summit news conference to explain his approach.